AVXChange, or Audio Video eXchange in its simplest form is a retail platform for audio and video entertainment. More specifically, AVXChange is a custom, incentive based, Peer to Peer (P2P) file sharing platform designed for the exchange of audio and video media over the internet.
AVXChange could further described as a FinTech business established on principles of Distributed Ledger Technology (DLT) set to revolutionize the distribution of proprietary data over the internet. Imagine a file sharing program with a polished interface and transaction mechanism which allows users to compensate intellectual property (IP) owners and incentivizes users by allowing them to earn for their role in distributing the product to market.
AVXChange technology engineered to address a need in the market to convert uncompensated P2P media file downloads into compensated media downloads by incentivizing P2P file sharing participants to purchase their files. Uncompensated downloads are when intellectual property owners receive no compensation for their work being downloaded.
AVXChange file sharing participants are incentivized to compensate IP owners by allowing those sharing the files to profit from their involvement in the distribution network, economically compensating them for the usage of their bandwidth, processing, and storage resources.
AVXChange believe there are several reasons why many users download content from P2P file sharing networks without compensating IP owners besides the lack of P2P platforms which enable the compensation of IP owners.
Once they have purchased the content, the user then becomes an authorized distributor of said content and can begin to earn for sharing that content to other users. Every time a user purchases proprietary content over the AVXChange network, a fixed amount (for now, 60%) is set aside in an account for the IP owner. Of the remaining percentage, 39% will go to reward the file distributors and the authentication nodes, leaving 1% for the AVXChange platform.
As the size of the video files increase to meet the higher resolution standards (4k, etc.), network load also increases. In time, a distributed network will be able to offer higher quality content at higher speeds than centralized server distribution models. Future will offer even higher resolution and added dimension (3D) ballooning file sizes even further.
Distributed network distribution is the solution to slower downloads from centralized servers. As more people purchase a particular file on the AVXChange network, there will be more people offering that file, thus increasing the ability to provide that file at the highest speeds possible.
AVXChange network will be custom built platform which includes the distributed ledger/database, cryptocurrency, layered node network, client application and the backend administrative application/interface. Ledger and cryptocurrency will be secured using cryptographic algorithms, blockchain type hashing, and custom consensus methods. From the onset, the design and development of the platform has had the following goals:
User identity protection
Immutable transaction transparency
Most of the technology implementation specifics will not be given as there are other entities trying to develop similar platforms. For security reasons this information will not be provided until network launch time at the earliest.
Existing uncompensated free P2P networks should be considered competition. The most popular P2P file sharing protocol currently is the BitTorrent method, where centralized tracking points are used to notify users which other users have file they are looking for. BitTorrent is popular because it is effective at disseminating popular files in a rapid way. It allows users to share bits of the file as soon as they receive them, thus creating the torrent like effect.
This feature is not new to BitTorrent, and has been in place since as far back as 2000 on networks such as Napster and Gnutella. A significant problem facing BitTorrent is the fact that after people complete their download they most often stop sharing the file. Very often, downloads do not complete because there are no seeders (people who have the entire file) left on the network.
This problem is eliminated on AVXChange network where users are economically compensated for sharing their files. As far as competition in the distributed systems, cryptographic tokenized file digital media distribution platforms, there is only one worth mentioning.
AVXChange Token (AVX) will be the currency of the commerce on the network. The AVX tokens may be exchanged for other cryptocurrencies at the given exchange rate at the time. Initially, the AVX tokens will be distributed internally within the organization. As the network nears beta stage, 5% of the tokens will be offered to one buyer or group of buyers to help fund the release of the platform.
This article is writing on 19 June 2020 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: email@example.com Or Whatsapp Us- +13098896258
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